Liverpool have won the European Cup 5 times. This includes 1 Champions League name, as the competition was rebranded in the early 90's.
The fifth European Cup victory came against AC Milan in 2005. Milan were winning 3-0 at half time and Liverpool fought back to take the game into extra time 3-3. With a goaless extra time, Liverpool would then go on to win via a penalty shootout.
Two years later the two teams met again in the final, with Milan coming out on top.
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Liverpool's most recent, fifth, Champions League title came in the 2005 competition.